I'd like to utilize Windows Server Storage Spaces (introduced in Windows Server 2012) to increase resiliency against harddrive failures. It is a small server, high performance is not a priority and so Storage Spaces seem like a simple solution.
However, this is what I've just found in the FAQ (emphasis mine):
Storage Spaces cannot be used to host the Windows operating system. Storage Spaces is not a disaster recovery or data replication solution, nor is it a substitute for regular backups.
So this means that I will need HW RAID anyway to protect my C: drive?